Plant and machinery are crucial assets for many businesses, but they also come with risks. Two important types of insurance coverage to consider are own plant and hired-in plant insurance.

Own plant insurance covers the equipment owned by the business and can provide protection against damage, theft, liability and business interruption. Hired-in plant insurance covers equipment that is rented or leased from another company and can help ensure that your business is protected while using third-party equipment.

Without plant insurance, businesses may be exposed to significant financial losses if their equipment is damaged, stolen or causes injury or property damage to third parties. In addition to plant insurance, businesses may also need to consider other types of coverage such as liability insurance, workers’ compensation insurance and business interruption insurance.

Plant insurance is an essential part of protecting your business and ensuring continuity of operations. Working with a knowledgeable insurance agent or broker like Metal Protect can help you determine the appropriate types and amounts of coverage for your specific needs.